Economics Presentation

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Economics Presentation

• Tonya Da Silva

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Content of Presentation

• Where CSME was established
• What it was designed to do
• Objectives of CSME
• Key elements
• Advantages
• Disadvantages
• Members of CSME

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History

• CSME stands for Caribbean Single Market and
  Economy
• It was established by the conference of heads of
  government at their meeting in Grand Anse,
  Grenada in 1989

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What was it designed for?

• To benefit the people of the region by providing
  more and better opportunities to produce and sell
  goods and services and to attract investment.

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Main Objectives

• The full use of labour ( full employment) and
  full exploitation of the other factors of
  production (natural resources, and capital).

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Objectives Continued

• Competitive production which leads to greater
  variety and quantity of products and services to
  trade with other countries.

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Key Elements of CSME

• Free movement of goods and services through
  various measures such as eliminating all barriers
  to intra regional movements and harmonizing to
  ensure acceptability of goods and services.

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• Right of establishment to permit the
  establishment of Caricom owned businesses in any
  member state without restrictions.

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• A common external tariff a rate of duty applied
  by all members of the market to a product
  imported from a country which is not a member of
  the market.

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• Free circulation free movement of goods
  imported from extra regional sources which would
  require collection of taxes at first point of
  entry into the region and the provision for
  sharing of collected customers revenue.

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• Free movement of capital through various
  measures such as eliminating foreign currencies
  or a common currency and integrated capital
  market such as a regional stock exchange.

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• A common trade policy- agreement among members on
  matters related to internal and international
  trade and a coordinated external trade policy
  negotiated on a joint basis.

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• Free movement on labour- through various measures
  such as removing all obstacles to intra-regional
  movement of skills, labour and travel,
  harmonizing social services and health, providing
  for the transfer of social security benefits and
  establishing common standards and measures for
  accreditation and equivalency.

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Advantages of CSME

• Improves the ability to recruit skill workers
  from across the region
• Enhance access to specialized training and
  technology transfer which serve to expand the
  knowledge base and capacity building skills in
  various sectors and location.

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• Increase opportunities for intra-regional
  cooperation in human and social development.

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Disadvantages

• Problems arising directly from the establishment
  of the CSME such as the size and infrastructure
  which would influence the distribution of gains
  from market and economic integration.

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• Another disadvantage may arise from the
  vulnerability of the economies of specific
  countries

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Members of CSME
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Members of CSME

• Antigua and Barbuda
• Barbados
• Belize
• Dominica
• Grenada
• Guyana
• Jamaica

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• Montserrat
• St Kitts and Nevis
• St Lucia
• St Vincent and the Grenadines
• Suriname
• Trinidad and Tobago

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• CSME - Right of Establishment (1280HD).mp4